Irving Resources Inc.
CNSX : IRV

February 01, 2016 16:15 ET

Irving Resources Announces Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 1, 2016) - Irving Resources Inc. (CSE:IRV) ("Irving" or the "Company") announces that it intends to conduct a non-brokered private placement to raise approximately $455,700 by the issuance of up to 3,255,000 units (the "Units") at a price of $0.14 per Unit (the "Private Placement"). Each Unit will be comprised of one common share of the Company and one share purchase warrant (the "Warrants"). Each Warrant will be exercisable for one common share of the Company at a price of $0.20 per share for a period of two years from the date of issue.

The Company plans to use the net proceeds of the Private Placement to fund exploration and other mineral property related activities on the Mpwapwa Joint Venture property in Tanzania and for general working capital purposes.

About Irving Resources Inc.:

Irving is a spin-out company originating from the recent acquisition of Gold Canyon Resources by First Mining Finance and starts its existence with a solid working alliance with Japan Oil, Gas and Metals National Corporation (JOGMEC) that gives Irving significant, low-cost exposure to mineral projects in Africa.

Irving, through a subsidiary, holds a Project Venture Agreement with JOGMEC for joint regional exploration programs in the United Republic of Tanzania and the Republic of Malawi.

Additional information can be found on Irving's website: www.IRVresources.com.

Akiko Levinson, President & Director

Forward-looking information

Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, statements as to the intention to conduct the Private Placement. Such forward-looking information is subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including, without limitation, the risk that the Private Placement may not be completed in the amount or on the terms as expected or at all.

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

Contact Information

  • Irving Resources Inc.
    (604) 682-3234
    Toll free: 1 (888) 242-3234
    (604) 682-0537 (FAX)
    www.IRVresources.com